MD Real Estate Summary May 2022
Divy Kangeyan
23 July, 2022
Maryland housing Data: May 2022
Units Sold
2021 - 2022 Comparison
% Change in Units Sold
Units Pending
Pending: Now that the seller and the buyer have agreed to each other’s terms and all contingencies have been met, the home is marked as pending and taken off the market
Units Pending: Number of houses that reached pending status
2021 - 2022 Comparison
% Change in Units Pending
Active Inventory
The inventory number is calculated by simply taking a count of the properties marked as active on the last day of the month
2021 - 2022 Comparison
% Change in Active Inventory
Average Sale Price
2021 - 2022 Comparison
% Change in Average Sale Price
Median Sale Price
2021 - 2022 Comparison
% Change in Median Sale Price
Median Days on Market
Median DOM: 50% of the houses had active status below this number of days and 50% of the houses had active status above this number of days.
2021 - 2022 Comparison
Change in Median Days on Market
Months of Inventory
% Change in Months of Inventory
New Listings
2021 - 2022 Comparison
% Change in New Listings
Conclusions
Maryland consists of 23 counties and Baltimore City. Altogether 24 regions
- Units sold is down in all but one county - Somerset county
(Chesapeake Bay Area)
- Range of % YoY Change in Units sold is -53% to 50%
- Pending Sales is down in all but 3 counties - Wicomico, Caroline,
Dorchester (Chesapeake Bay Area)
- Range of % YoY Change in Units pending is -26% to 50%
- Active Inventory is down in all but Dorchester County
- Range of % YoY Change in Active Inventory is -53% to 40%
- Average sale price is up in all counties except Queen Ann’s County
- Range of % YoY Change in Active Inventory is -8% to 23%
- Median sale price is up in every single county and city
- Range of % YoY Change in Median Sale Price is 6.89% to 27.31%
- Median days on market is down in 5/24 regions and (All in Chesapeake
Region). Median DOM is up in 10/24 regions. In 9/24 regions median DOM
is unchanged
- In Caroline county YoY median DOM decreased by 9 days and in Somerset county it increased by 14 days
- Months of inventory is up in 4 counties and unchanged in 3 counties.
In rest of the regions months of inventory is down
- Range of % YoY Change in Months of Inventory is -60% to 42%
- New Listings are up in 4/24 regions and it is unchanged in one
county and in rest of the regions new listings were down
- Range of % YoY Change in Months of Inventory is -23% to 46%
Montgomery County trend: January 2022 - May 2022
Units Sold
% Change in Units Sold
Units Pending
% Change in Units Pending
Active Inventory
% Change in Active Inventory
Average Sale Price
% Change in Average Sale Price
Median Sale Price
% Change in Median Sale Price
Median Days on Market
% Change in Median Days on Market
Months of Inventory
% Change in Months of Inventory
New Listings
% Change in New Listings
Conclusions: Montgomery County
- Units sold is down through January - May
- % Change in units sold doesn’t show a consistent pattern
- Units pending is also down through January - May
- Difference was below 3% in February and except for that every other month YoY units pending is down more than 10%
- 2022 active inventory is also down compared to 2021 levels. However,
it is improving every single month
- In January the YoY % difference was -50% but in April the YoY % difference was -29%
- Average sale price is lower in January 2022 compared to January 2021. Since then average sale price is higher in 2022 compared to 2021. May saw the highest YoY change in average sale price - 13.42%
- Median sale price also showed similar trend as the average sale price; However, median sale price gradually increased every single month since February 2022. May 2022 saw the highest YoY increase at 12.73%
- Median Days on Market is higher in January 2022 compared to January 2021 by 2 days. From February through May there was no change in median days on market between 2022 and 2021.
- Months of Inventory has been down throughout 2022; However, it has been gradually increasing since January. In January YoY change in months of inventory was -55.56% and in May it improved to -30%
- New Listings has been down throughout 2022 except for in February. YoY change in new listings are lower in May compared to April.